CONTINUED co-operation in a variety of fields between Hong Kong and Germany could help to improve the future economic prospects of the SAR, according to Wolfgang Gerz, consul-general of the Federal Republic of Germany. Mr Gerz said Hong Kong could benefit from the experience and technical expertise of German companies in the areas of environmental protection, technology and finance. He said Hong Kong provided a favourable environment for German people to conduct business. Hong Kong's stability, transparency, efficient physical infrastructure, skilled labour force, and its status as a prominent regional services centre are great advantages for foreign business. 'There is rule of law, human rights and the belief in the inoperative power of an individual as the most important element of a modern society,' Mr Gerz said. 'We share these common convictions and we are natural partners for this on-going globalisation. Germany is Hong Kong's largest European trading partner and Hong Kong, the other way around, is also important for us. There is still a large potential to be developed further.' Mr Gerz said German companies wanted to play a greater role in the development of Hong Kong's proposed Cyberport project as multinationals such as Siemens, Bosch and BASF had extensive technological experience and were progressive in working with international partners. The Cyberport initiative has major long-term implications for Hong Kong's economy as the Government attempts to pave the way for future economic growth. In the long-term, the cyber-economy could improve Hong Kong's competitiveness and also strengthen its role as a regional and global financial centre, when one considers the growth of on-line banking and financial services, from an Asian and a global perspective. In finance, the Frankfurt stock exchange, one of the largest in Europe, could also play a significant role in the development of the SAR's electronic commerce, on-line trading and foreign exchange. Although e-commerce in Hong Kong is at its infancy, there is potential for its further development. Mr Gerz said the advent of the euro provided a positive effect as it increased transparency, making it easier for access to European markets. The currency's introduction has also helped exporters to explore new markets in eastern Europe - markets that were previously difficult to access. 'Hong Kong should play a role in the currency market dealing with the euro. It should take advantages of precedents set in Germany to further it own prosperity and use the capacity of Germany, as the centre of Europe, and the increasing integration of Europe,' he said. 'We are a market of 82 million people which has been expanded to 300 million with the opening of the European Union and Hong Kong should make use of that.' Environmental protection is an area which could be addressed as Germany has extensive experience in cleaning up its own environment. The rehabilitation of the Rhine River, which flows through Germany and several western European countries, provided the country with extensive experience. Germany has also been at the forefront of recycling waste to produceenergy. 'Hong Kong has a great need to do something about its environment much as we had to 20 years ago. We have high density living areas where at first people did not accept that there was a danger. When they realised the hazards they said it [the clean-up] was too expensive. Now they realise the benefits,' Mr Gerz said. 'The Rhine was nearly dead 20 years ago and a few weeks ago they caught the first salmon in the river again, proving one of the most beautiful rivers in world is alive again. I have confidence in a common future and that we are able in Hong Kong and in Germany to develop the positive potential we have.' Al Campbell
